U.S. industrial output jumps in April at fastest rate in more than three years

Industrial production in April grew at the fastest monthly rate in more than three years, on the back of broad-based gains in the manufacturing sector. The Federal Reserve said Tuesday that industrial production grew 1% in April, topping the MarketWatch-compiled economist consensus for 0.5% growth. This is the fastest pace of growth since February 2014. March’s increase was revised down slightly to a 0.4% rise from an initially reported 0.5% gain. But industrial output has been up for three straight months.